In 2004, the tech industry labor market picked itself off the canvas -- bloodied and scarred after two years of heavy beatings. While this year looks to be another step in the right direction, don't expect a return to the knockout growth last seen during the tech boom. Indeed, tech employment is becoming increasingly vulnerable to the same globalization and consolidation pressures that have jarred the rest of the labor market for decades.

It's an odd time for tech workers. While hiring has picked up, salaries remain stagnant. Last year, the industry added about 35,000 jobs, reports Economy.com, a forecasting and consulting firm in West Chester, Pa. And about 10,000 of those jobs were created in December, according to government labor data released Jan. 7.

[...]

The $558 billion info-tech services market, the largest tech sector, is expected to grow 5.7% this year, up from 3.3% in 2004, according to Kennedy Information, which tracks the consulting industry. Accenture (ACN), for instance, is expected to increase its staff from 15% to 20% in 2005, about the same as 2004. "We'll continue to see some growth," says Brad Smith, Kennedy vice-president.

THINKING GLOBALLY. The other hot areas include software engineering and Internet services. Microsoft (MSFT) says it expects to hire 6,000 to 7,000 employees this year, with around half in the U.S. Google (GOOG) has not released official hiring projections for 2005, but it has hundreds of openings listed on its Web site. Last year, the search-engine kingpin almost doubled its headcount to 3,000, up from 1,600 at the end of 2003. E-commerce site Priceline.com (PCLN) expects to boost its staff by 20% over last year.